HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

Pre-IPO SciClone Pharmaceuticals - Here Are the Strength and the Concerns

Luye Pharma (2186.HK) - Could the Magic of Hillhouse Last Long?

Bloomage Biotechnology (688363.CH) - Accelerated Growth with the Approval of New Regulation

Chongqing Zhifei Biological Products- Promising Future After Successful Renewal of Contract with MSD

Hygeia Healthcare Group (6078 HK) - Good Business Model with Large Market Potential

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Equity Capital Markets

<p>On January 20<sup>th</sup>, 2021, <a href="https://www.smartkarma.com/entities/adagene-inc" target="_blank" data-smartkarma-citation="entities:31371:1" rel="noopener">Adagene Inc (ADAG US)</a> filed with the U.S. Securities and Exchange Commission (SEC) to go public, officially starting the process of IPO in the United States. It is said that Adagene may raise as much as $125 million. Meanwhile, according to some media’s reports, Adagene has close ties with the CRO/CDMO giant WuXi AppTec, who is also one of the investors in the Company with 10.8% shares and provides strong support for its IPO. The following mainly provide analysis in terms of platform, pipeline and financial position.</p>

On January 20th, 2021, Adagene Inc (ADAG US) filed with the U.S. Securities and Exchange Commission (SEC) to go public, officially starting the process of IPO in the United States. It is said that Adagene may raise as much as $125 million. Meanwhile, according to some media’s reports, Adagene has close ties with the CRO/CDMO giant WuXi AppTec, who is also one of the investors in the Company with 10.8% shares and provides strong support for its IPO. The following mainly provide analysis in terms of platform, pipeline and financial position.

Hualan Biological Engineering (002007 CH)

Zhejiang Huahai Pharmaceutical Co, Ltd. (600521 CH)

Pre-IPO Adagene Inc (ADAG US) - Advanced Technology but Still Take Time for Commercialization